Patton Fund Management Inc. Buys Shares of 947 International Business Machines Corporation $IBM

Key Points

• Patton Fund Management Inc. acquired 947 shares of International Business Machines Corporation (IBM) in the second quarter, valued at approximately $279,000.
• IBM reported a quarterly earnings per share (EPS) of $2.80, surpassing estimates, and a revenue of $16.98 billion for the quarter, reflecting a 7.7% year-over-year increase.
• The company declared a quarterly dividend of $1.68 per share, resulting in an annualized dividend of $6.72 and a yield of 2.4%.

Patton Fund Management Inc. purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 947 shares of the technology company's stock, valued at approximately $279,000.

Other large investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the 1st quarter valued at $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines during the first quarter worth about $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines in the first quarter valued at about $31,000. Silicon Valley Capital Partners grew its position in shares of International Business Machines by 322.6% in the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Compass Financial Services Inc lifted its stake in International Business Machines by 41.5% during the first quarter. Compass Financial Services Inc now owns 167 shares of the technology company's stock worth $42,000 after purchasing an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM opened at $284.72 on Friday. The stock has a market cap of $264.62 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 4.33 and a beta of 0.71. The business has a 50 day moving average of $254.07 and a 200-day moving average of $257.97. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. UBS Group raised their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Bank of America dropped their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Finally, Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $275.00.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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